Canada Stocks: Toronto stocks rebound as Trump's tariff pause offers relief, miners rally

OceanaGold

19/08/2026 15:24

Aris Mining top gainer, adds 9.4%
Trump announces three-day pause on tariffs late Tuesday
Minutes of Fed July meeting due later in the day
By Sudeshna Ghoshal
August 19 (Reuters) - Canada's commodity-heavy main stock index edged higher on Wednesday as investors cheered the pausing of new U.S. tariffs on Canadian goods, while gains in mining shares offered additional support.
The S&P/TSX Composite Index .GSPTSE was up 0.9% at 36,653.47 points by 9:54 a.m. ET, after three straight days of declines.   
U.S. President Donald Trump announced late on Tuesday he was putting a three-day pause on new 50% tariffs that were set to go into effect on Canadian goods on Wednesday, saying the two countries had reached a deal.
"Trump's announcement on a three-day pause is providing some relief to our Canadian equity market, which should boost our market higher," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James.
Heavyweight miners .GSPTTMT climbed 5.4%, leading gains on the main index, as gold prices inched up nearly 3% supported by a drop in the dollar and bond yields. GOL/
Aris Mining ARIS.TO was a standout performer, up 9.2%, while OceanaGold Corp OGC.TO and Endeavour Silver EDR.TO gained more than 8% each.
Energy stocks .SPTTEN advanced 0.8% as oil prices climbed amid uncertainty over shipping through the Strait of Hormuz and ongoing supply disruptions. O/R
Brent crude futures LCOc1 traded around $92 per barrel, while West Texas Intermediate crude hit $85.97 a barrel. O/R
Seven of the 10 major sectors on the TSX were trading higher.
Traders are also awaiting minutes of the U.S. Federal Reserve's July meeting, due later in the day, which could offer further insights into the central bank's interest rate trajectory.

(Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Jonathan Ananda)
((Sudeshna.Ghoshal@thomsonreuters.com;))